Navigating the world of student loans and grants can be a challenge on top of everything you are managing as you prepare for school. Refer to our list of FAQs to learn answers to questions everyone has.
How do I confirm my student loan?
Approximately 3 weeks before each semester start date Financial Aid will confirm your loan providing you are enrolled in a full-time course load and registered in the correct program etc. At that time your tuition for the current semester will be directed to the College and applied to your outstanding tuition. Note: There are some situations where Financial Aid is unable to request the whole amount of tuition. In these cases the student loan funds are paid directly to you and you will be responsible for ensuring your tuition fees are paid in full by the deadline dates. Check your online student record account to confirm your tuition fees have been paid.
My loan has been confirmed – Now what?
Once your loan has been confirmed the amount that was requested by Financial Aid will be posted on your account. The remaining loan proceeds will be deposited to your personal bank account. This can take 5 – 10 business days. Refer to your disbursement dates outlined in your loan assessment provided by your province. Note: There are some situations where Financial Aid is unable to request the whole amount of tuition. In these cases the student loan funds are paid directly to you and you will be responsible for ensuring your tuition fees are paid in full by the deadline dates. Check your online student record account to confirm your tuition fees have been paid.
What if I drop a course?
Before dropping any courses contact FinancialAid@selkirk.ca to advise us. We will check your course load to make sure you still meet a full-time course load. If you drop below full-time status we are required to advise your loan provider. This may negatively affect your loan status and your ability to receive future loans. It is your responsibility to ensure you meet full-time or part-time enrolment requirements. If a dropped course results in a credit on your student record account, the credit will be sent back to student loans.
Health & Dental Fees? They are confusing me...
Financial Aid does not request Health & Dental fees from your student loan. You are responsible for paying this charge. Alternatively, you can opt out of the Health & Dental by completing the Opt Out form by the required deadline.
I am staying in Student Housing. What does this mean for my loan?
Financial Aid does not request student housing fees from your student loan. You are responsible for paying these fees. Log into your student record account to view your balances.
What if I am receiving a sponsorship?
If you have a sponsor paying for your tuition, more than likely they will not have paid at the time Financial Aid confirms your loan. When your loan is confirmed we request tuition to come directly to us. When your sponsor pays your tuition you will have a credit on your account. At that time a cheque refund can be requested by contacting FinancialAid@selkirk.ca. You can log into your student account to watch for the credit to appear on your account.